U.S. Stocks Fall as October Heads to a Close

By Liz Moyer

Investing.com -- U.S. stocks opened lower on Monday as investors tried to close out the month on a positive note ahead of the Federal Reserve’s next meeting this week.

At 9:52 ET (13:52 GMT), the Dow Jones Industrial Average was down 226 points or 0.7%, while the S&P 500 was down 0.8% and the NASDAQ Composite was down 1.2%.

Corporate earnings have been mixed this month, and investors are hoping a few new data points on inflation and consumer confidence convince the Fed to ease off on the pace of its interest rate increases after this week’s meeting. The central bank is widely expected to raise its benchmark rate this week by a 0.75 percentage point for the fourth time in a row.

The jobs report for October is due out on Friday.

Stocks have been surging despite some downbeat reports from big tech companies, with the S&P and Nasdaq scoring two consecutive weeks of gains. The Dow is up 14% this month heading into the final day of trading.

Wynn Resorts Limited (NASDAQ: WYNN) shares rose 8.8% after investor Tilman Fertitta disclosed a 6.1% stake.

Oil fell. Crude Oil WTI Futures was down 1%, to $87.00 a barrel, while Brent Oil Futures was down 0.9% to $92.93 a barrel. Gold Futures fell 0.3% to $1639.

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